Barrett Asset Management LLC increased its stake in Alibaba Group Holding Limited (NYSE:BABA) by 125.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,250 shares of the specialty retailer’s stock after buying an additional 1,250 shares during the period. Barrett Asset Management LLC’s holdings in Alibaba Group Holding Limited were worth $317,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Reliance Trust Co. of Delaware raised its stake in shares of Alibaba Group Holding Limited by 31.5% in the first quarter. Reliance Trust Co. of Delaware now owns 10,216 shares of the specialty retailer’s stock valued at $1,101,000 after buying an additional 2,448 shares in the last quarter. Hartwell J M Limited Partnership raised its stake in shares of Alibaba Group Holding Limited by 6.1% in the first quarter. Hartwell J M Limited Partnership now owns 49,750 shares of the specialty retailer’s stock valued at $5,365,000 after buying an additional 2,850 shares in the last quarter. CWM LLC raised its stake in shares of Alibaba Group Holding Limited by 2.7% in the first quarter. CWM LLC now owns 11,665 shares of the specialty retailer’s stock valued at $1,258,000 after buying an additional 304 shares in the last quarter. State of New Jersey Common Pension Fund D raised its stake in shares of Alibaba Group Holding Limited by 6.1% in the first quarter. State of New Jersey Common Pension Fund D now owns 893,522 shares of the specialty retailer’s stock valued at $96,348,000 after buying an additional 51,629 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of Alibaba Group Holding Limited by 4.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 47,222 shares of the specialty retailer’s stock valued at $5,092,000 after buying an additional 1,912 shares in the last quarter. 36.75% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Holding Limited (NYSE BABA) opened at 158.84 on Tuesday. Alibaba Group Holding Limited has a 52 week low of $83.17 and a 52 week high of $160.39. The company has a market capitalization of $401.87 billion, a price-to-earnings ratio of 63.28 and a beta of 2.64. The company has a 50 day moving average of $146.12 and a 200 day moving average of $119.67.

Alibaba Group Holding Limited (NYSE:BABA) last issued its earnings results on Thursday, May 18th. The specialty retailer reported $0.63 EPS for the quarter, missing the Zacks’ consensus estimate of $0.64 by $0.01. The firm had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.26 billion. Alibaba Group Holding Limited had a net margin of 27.51% and a return on equity of 15.40%. During the same quarter in the prior year, the company earned $0.47 EPS. On average, equities analysts forecast that Alibaba Group Holding Limited will post $4.55 EPS for the current fiscal year.

Alibaba Group Holding Limited announced that its Board of Directors has approved a share buyback plan on Thursday, May 18th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the specialty retailer to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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BABA has been the topic of several research reports. BidaskClub lowered shares of Alibaba Group Holding Limited from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Goldman Sachs Group, Inc. (The) set a $179.00 price target on shares of Alibaba Group Holding Limited and gave the company a “buy” rating in a research report on Friday, June 9th. Benchmark Co. assumed coverage on shares of Alibaba Group Holding Limited in a research report on Tuesday, April 18th. They issued a “buy” rating and a $140.00 price target on the stock. Royal Bank Of Canada reissued an “outperform” rating and issued a $120.00 price target on shares of Alibaba Group Holding Limited in a research report on Tuesday, May 23rd. Finally, CIBC boosted their price target on shares of Alibaba Group Holding Limited from $130.00 to $140.00 and gave the company an “outperform” rating in a research report on Tuesday, May 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating, thirty-three have issued a buy rating and two have issued a strong buy rating to the stock. Alibaba Group Holding Limited has an average rating of “Buy” and a consensus price target of $140.99.

Alibaba Group Holding Limited Company Profile

Alibaba Group Holding Limited is a holding company. Through its subsidiaries, the Company is engaged in online and mobile commerce through offering of products, services and technology that enable merchants, brands and other businesses to transform the way they market, sell and operate in the People’s Republic of China (China) and internationally.

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